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Latest Blog Posts

Advance Directives/Living Wills are a Critical Component of Estate Planning

Posted on: April 10th, 2015
March 31, 2012 marked the seventh anniversary of the death of Terri Schiavo, the 41-year-old who succumbed after her feeding tube was removed as part of a very public legal battle between her husband and parents. As you may recall, Terri Schiavo was in a coma for nearly 15 years after she suffered cardiac arrest and sustained a brain injury. Her husband, Michael Schiavo, alleged that his wife would not want to live in her incapacitated state; she had no written instructions in place....

Estate Planning With Dementia on the Rise

Posted on: April 10th, 2015
Dementia is a syndrome that causes deterioration of cognitive function. As the baby boomer generation continues to age, so does the number of people who are affected by dementia. Perhaps more alarming, dementia is more commonly being diagnosed among individuals in their 50s. Although you may never have to deal with the challenges that a diagnosis of dementia can bring, it is still vital that you complete your estate plan early, while you have the mental capacity legally required to make estate planning decisions....

Estate Planning is a Woman’s Issue, Part Two: Married, Single and Charitably Inclined

Posted on: April 10th, 2015
Estate Planning is a Woman’s Issue, Part Two: Married, Single and Charitably Inclined Women have special estate-planning needs. In Part One we explained that, because women typically live longer than men, they need to plan for the possibility of incapacity in their later years. We also discussed that women as caregivers need to plan for the continued care of those who may be dependent upon them....

Estate Planning is a Woman’s Issue, Part One: Incapacity and the Caregiver

Posted on: April 10th, 2015
All women—regardless of marital status and career choices—need to understand estate planning and need to have a plan of their own in place. Here are some issues that are of special interest to women. Incapacity: Generally speaking, women live longer than men. As a result, there is an increased need to plan for physical and/or mental incapacity that can occur in later years....

Estate Planning: You Need an Incapacity Plan that Works When It’s Needed

Posted on: April 10th, 2015
Estate planning is not only about having a plan in place to deal with what happens after a loved one’s death, it is also about having a plan in place to deal with what happens if a loved one becomes mentally incapacitated. In this post you will learn: What happens without an incapacity plan; The essential documents for managing finances during incapacity;...

Living Trust Administration After Death of the Trustor

Posted on: April 10th, 2015
After the death of the Trustor of a living trust, or after the death of the surviving Trustor (if the revocable living trust is a joint trust), the following steps should be taken: Successor Trustee. Establish authority for dealing with the trust estate by determining the identity of the successor trustee, and that person’s right to act. Documentation for the successor trustee usually needs to be provided to third parties, such as banks, mutual funds, or brokerage companies....
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Leonard A. Hagen, J.D., LL.M.
Sound Estate Planning, PLLC
152 3rd Ave. South, Ste. 107
Edmonds, WA 98020
Phone: (425) 967-7287

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